ISLAMABAD
The Executive Committee of the National Economic Council (ECNEC) has approved the Karachi Circular Railway (KCR) and Greater Thal Canal Project (Phase-II).
The approval was given in a meeting chaired by Federal Minister for Finance and Revenue Shaukat Tarin on Wednesday. The Ministry of Planning, Development and Special Initiatives submitted a summary on development, operation and maintenance of Karachi Circular Railway as a modern urban railway under public private partnership mode with a total cost of Rs201,572 million. The project envisages construction of a 43.225-km dual track urban mass transit system to be built in a period of 3 years.
Karachi Circular Railways Management Company (KCRMC) will be responsible to keep an oversight related to the execution, operation and maintenance of the project. The ENEC approved the project after detailed discussion.
The Ministry of Planning also submitted a summary of recommendations after holding meetings with representatives of the governments of Sindh and Punjab on the Greater Thal Canal Project (Phase-II). The project was approved in principle by the ECNEC on 22-12-2021 at a cost of Rs38,372.225 million. The ECNEC after detailed discussion approved the project on the basis of the first four recommendations.
The Planning Ministry also submitted a summary regarding revised standardised pay packages for the staff directly recruited under development projects. The ECNEC after due deliberation approved to enhance the Project Pay Scale (PPS) at the rate of 75 percent.
The ECNEC after discussion approved a summary presented by the Ministry of Planning, Development and Special Initiatives regarding appropriate allocation of total budget outlay in PSDP projects for running effective media campaigns to create awareness about federal government’s policies, projects and initiatives aimed at socio-economic development and welfare of the people.
The Ministry of Planning submitted yet another summary on the Rural Economic Transformation Project (RETP-KP). The project aims at improving income of rural households through multi-sectoral interventions in agribusiness development and employment promotion.
will be implemented throughout the Khyber Pakhtunkhwa province (35 districts) to contribute to poverty reduction and food & nutrition security of rural communities. The ECNEC approved the project at a cost of Rs30,265.75 million including IFAD loan of Rs17,565.75 million, the provincial government share of Rs4,712 million and beneficiaries share of Rs7,988 million with a project gestation period of seven years ( 2022-2029).
A committee was also formed under the Chairmanship of the Finance Minister to review the transaction structure related to Federal Government VGF contribution.
Energy Minister Hammad Azhar, Punjab Irrigation Minister Muhammad Mohsin Leghari, deputy chairman Planning Commission, federal secretaries and other senior officers from federal as well as provincial governments participated in the meeting.
